As a New Jersey car insurance consumer, you can shop for coverage at any time of the year. You don’t necessarily have to wait until your current policy is up for renewal to make a switch if you want to. If you find another insurance company that can offer you better rates, you can buy a policy from that provider and cancel your existing one.
Don’t cancel your current coverage until your new policy has been issued, though. You don’t want to be left with a lapse in coverage, even for a day. If you get caught driving without coverage during that time, you could be charged with an offense.
If you decide to change the type of coverage you have on your car or lower the limit to save money, you are entitled to a refund on the unused premium. The insurance company must issue the refund within 60 days of the policy cancellation or when you gave the insurer notice of cancellation.
Buying New Jersey car insurance is a major purchase, and you want to be sure you are getting the right coverage at the right price. Make a point of getting quotes from multiple insurance companies before you renew your policy, or any time you are curious about whether you can get better rates from another provider.